How to Start POS Business With GTBank – Do you intend starting a POS business this year ? Then, for the best point of sale machine, you can get one from GTBank. In this guide to starting a POS business with GTBank, you will learn how to get a POS machine from GTBank and you can start earning right away.
POS machine operators are currently enjoying a good time in business, and at the expense of the current banking transactions, POS is leading overpayment of goods and services. It is good to note that you can not be able to operate a POS business in Nigeria without getting the machine, and you apply to get one that will make sure that your transactions are carried out easily and timely.
Just get to social media pages of some of the banks and search out for customer reviews or you can choose to go for a bank you already have an account to, I recommend the GTB POS machine to you for its ease of use. But how can you start a POS business with GTB? Please read patiently to find out.
How Can I Start POS Business With GTBank ?
The process flow to utilize when you want to start a POS business with GTBank is easy and can be completed in the space of 2 weeks or within 2 weeks to a month interval, provided you are not failing the requirements by the GTBank. Do you wish to start a POS business with GTBank?, Here is what you should do:
1. Raise the business capital
As earlier stated, the capital needed for POS business with GTBank is low. You also do not need to disturb yourself about purchasing some of the extravagant furniture fittings for your shop. The cost of starting a POS business with GTBank is also reduced by the fact that you are not expected to build a fancy shop to host the business. Majority of the POS businesses in your locality are just but a table and chair placed in a strategic location or placed In a shed. A simple store with an indicative sign advertising your services is okay.
2. Get a good location
A place with dense population works well for this business such . Check for crowded areas that has pedestrian traffic (including markets, motor parks, residential areas to mention but a few)
3. Meet the official requirements
The areas of financial services are very sensitive and you should be careful when dealing with it and this explains the reason why the Central Bank of Nigeria has taken different precautions to make sure that their is integrity among those who will meet the eligibility to become agents. One of the requirement is that you are expected to have an existing business of any type (Note that the business must be in operation for at least 12 months) and you should also have a shop or office ( A place with dense population works well for this business such . Look-out for crowded areas that has pedestrian traffic (including markets, motor parks, residential areas to mention but a few) where you have selected to operate.
4. Approach a bank and apply for the POS machine:
To start a POS business with GTBank and to be fit for GTBank Agent Banking Services, you must meet the following requirements;
- Must have a functional account with Guarantee Bank Trust.
- You must have a valid identification card ( you can provide either of Voters Card, National Identity, or Drivers License)
- You must have an existing business site/location.
- Have proof of the business residential address which would be judged from the utilities ( Nepa Bill, Water Bill, etc.)
How To Apply For A GTBank POS Terminal
To acquire a GTBank POS terminal which also means that you are becoming an agent with GTBank . You should abide by the below steps;
- Firstly, you are expected to have a GTBank Business Current Account.
- Visit any of the GTBank branch closest to you and get in contact with a customer care staff.
- Ask for a POS application form and agreement form.
- If your request form happens to get approved, you will be contacted to collect your POS.
Advantages of Owning a POS Business
Here are some of the Advantages of Owning a POS Business
The Two outstanding advantages of owning a POS business are:
- Relatively Low capital is needed to start the business: Not like most other businesses, starting POS business does not need that you invest large sums of money in order to start the business . A minimum balance worth up to N50,000 is best to begin the business. The cost of opening a POS business is also reduced by the fact that you are not expected to build a fancy shop to host the business. Majority of the POS businesses in Nigeria are just but a table and chair placed in a strategic location or placed In a shed.
- Unlimited number of customers: Profit-making is very easy with POS business as the target market is a big subset of the country’s population. The POS agent is able to make unlimited transactions on a daily basis and he can run into large profits.
Services of a GTBank POS Agent Banking
One of the objectives of GTExpress is to offer banking services and bring it to the doorstep of people in the community. Here are some of the services offered by GTBank POS Agents.
- Account Opening (for Instant Accounts).
- Cash Deposit and cash Withdrawal.
- Customer Enquiries.
- Payments for bills (utilities, etc)
- Funds Transfer Services (eg is local money value transfer).
The benefits of POS agents include an Increase in income, Increase in access points for Bank customers, No more delay or waste of time in lining up at the banking hall, ease of transacting via e-channel, Improved efficiency minimizes cash handling and aids reconciliation, increase in sales as merchants have access to both cash and card-carrying Customers, immediate confirmation of payment for goods, reduced cost of Personnel and equipment for handling cash receipts, reduced exposure to loss due to armed robbery or pilferage by Employees, including elimination of the inconvenience of cheque confirmation and clearing period.
How Long Do I Have to Wait To Get GTBank POS after applying?
Following all post-application checks and approval of your account as a verified GTBAnk POS agent, you will get your GTB POS about 14 days after applying. Normally, the process flow to utilize when you want to start a POS business with GTBank is easy and can be completed in the space of 2 weeks or within 2 weeks to a month interval, provided you are not failing the requirements by the GTBank. Always try as much as possible to keep in contact with GTBAnk to learn about the up-to-date services concerning the application process by contacting your Account officer via call or by emailing [email protected].
Making up your mind to become a GT Bank POS agent is a very nice decision considering the enormous benefits. I hope the guide in this content walked you through the application requirements and steps in becoming a GTbank POS agent and launching your POS business with GTBank.
Frequently Asked Questions
How much is GTBank POS?
GTBank POS Machine Terminals are given free of charge upon application approvals. GTbank charges a fee of up to 0.75% for each payment or service made with the POS.
How much does it cost to start a POS business?
The main cost that you’ll need to start a POS business in Nigeria is the cash at hand you’ll need to make withdrawals possible and you can start with any amount
What are the requirements to get a POS machine from the bank?
Bank Verification Number (BVN) Current Account references. Evidence of business registration (CAC Certificate) A minimum capital of N50,000.
How do I get GTBank POS?
To get a GTB pos machine, you have to visit any of the nearest GTBank office branch and request for a POS application form.
How much do POS agents make a day?
You can make as much as #5,000 to #11,000 Naira per day if you have a good location and have earned good reputation with the community.
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